Kosher Food (WILC)

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G. Willi-Food Pulls Out of Vitarroz Deal
Tuesday September 27, 9:09 am ET
G. Willi-Food Decides Not to Acquire Interest in Vitarroz After Due Diligence Review


NEW YORK (AP) -- G. Willi-Food International Ltd., one of Israel's largest distributors of kosher foods, said Tuesday that it has decided against acquiring a sizable interest in New Jersey Hispanic foods company Vitarroz Corp. as announced in June.
After a due diligence review of Vitarroz's financial condition, the company decided not to pursue the transaction. Willi-Food had offered to acquire a 50 percent to a 55 percent interest in privately held Vitarroz in an all-cash transaction.

The company said that it is exploring other acquisition targets to allow it to expand into the U.S. market.

http://biz.yahoo.com/ap/050927/g_willi_food_vitarroz.html?.v=1

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